Blockchain Data Verification Platform Launched By

Announcements, Blockchain | May 1, 2018 By:

Outsourced research marketplace has developed a blockchain platform to ensure data and information integrity. operates private enterprise marketplaces for most of the world’s major pharmaceutical companies, including VWR and the US National Institutes of Health (NIH). Since its founding in 2007, has connected buyers and sellers of research services. Through this exchange, they are able to deliver faster science through an innovative approach to research and development (R&D).

The new blockchain data verification platform, called DataSmart, enables pharmaceutical and biotech companies to demonstrate the veracity of electronically submitted research data to regulators. It will allow companies to prove to regulators that the data has not been tampered with since it was first obtained.

“Blockchain’s ability to ensure the integrity of information is the basis of its use in cryptocurrencies,” said Chris Petersen, CTO and co-founder of “In biopharma research, we need blockchain technology to verify and validate the supply chain and to ensure the integrity of research data. Our new DataSmart platform enables pharmaceutical and biotech companies to demonstrate that critical supplier information and important research data has not been tampered with and remains unaltered.”

Within the biopharma industry, late-stage preclinical and clinical research is subject to the strict guidelines of 21CFR Part 11, under which electronic records are considered trustworthy and equivalent to paper records. The company said the service will specifically help companies comply with the strict guidelines.

“The cost and time spent adhering to 21CFR Part 11 has made it prohibitive to ensure data integrity at earlier stages of the drug discovery and development process,” said Kevin Lustig, CEO and co-founder of “Our new DataSmart platform makes it possible to extend data integrity protections throughout the entire drug research process, from concept to clinic and beyond.”